The Vice-President, Business Development, Dana Motors, Mr Olu Tikolo, on Saturday said that the recent call for the reduction of import duties on used cars portends danger to the 2013 Nigeria Auto Policy. The News Agency of Nigeria reports that Cars45 provides one of a kind of platform for used cars in Nigeria, giving a private network of buyers the fastest way to find the perfect car that fits their buyers’ needs. “We must understand the prospect of the 2013 Auto Policy by the previous government which is aimed at encouraging local manufacturing of cars in Nigeria. “The call for the reduction in the tariff for the importation of used cars portends great danger to the economy and also for investors’ confidence in our economy. “In other advanced countries, car manufacturing contributes up to 12 per cent of their economy, examples are South Africa and Brazil,’’ he said.

Source: Punch February 02, 2019 09:11 UTC